Ukrainian troops have shelled the Russian city of Donetsk, local authorities said in the early hours of Monday, urging residents to seek shelter.  Casualties were reported after the city center was hit by “a massive barrage,” news agency TASS said, citing emergency services.

Russia’s foreign currency reserves have continued to grow, surpassing $593 billion as of December 22, the country’s central bank has reported.  Statistics show the volume of international reserves increased by $5.5 billion, or 0.9%, in the week from December 15, largely due to “a positive market revaluation.”

Iran and Russia have officially abandoned the US dollar for mutual settlements after the countries finalized an agreement to trade in the ruble and the rial, Iranian news agency IRNA reported this week. The agreement was sealed during a meeting in Russia between the heads of the central banks of the two countries, the outlet said.